Crystal Palace have revealed they are set to break their transfer record this summer amid growing links with Andros Townsend.

Assistant manager Keith Millen hinted that the Premier League club are ready to trigger the £12million release clause in Townsend’s Newcastle contract.

It has been widely reported that Palace are one of a number of Premier League clubs keen to convince the England international to quit St James’ Park.

Millen has revealed that the south London club would need to exceed the reported £10m they paid for Yohan Cabaye last summer to improve in 2016-17.

Asked by the South London Press if Palace would exceed the club-record Cabaye fee, coach Millen said: “I would think so. The American owners are in now and this is their first summer with us.

“I don’t know what the budget is, I don’t get that involved in the figures, but we need to improve the squad- and for us to do that we know it will be a lot of money.”

Townsend made a £12million January move from Tottenham to Newcastle, where he scored four goals in 13 appearances, but could not stop the clubs relegation to the Championship.

The Eagles finished 15th in the 2015-16 season, with defender Scott Dann being among their top scorers with five goals. Alan Pardew has since identified attacking options to improve their chances of success in the coming season.

Millen has stated that Palace will be looking to bolster each position on the pitch to avoid any failures and will look to use the new TV money coming into action.

“We need to make sure we have more than one option in positions in case it doesn’t always come off for us on the pitch,” added Millen to the South London Press.

“The fees and personal terms this window will probably be the highest ever because of the demand for top players and the money out there in the Premier League.”